HOUSTON (Jan. 13, 2003) - Landata Group Inc., a wholly owned subsidiary of Stewart Information Services Corp. (NYSE-STC), has merged two operating entities to form Stewart Geo Technologies, a multifaceted international provider of geospatial solutions with product lines in mapping services, geographic information systems (GIS) application development, GIS consulting, and Internet data integration and publication.
Stewart Geo Technologies also has acquired the assets of GlobeXplorer Inc., a leading provider of satellite images and aerial photography via the Internet.
"By forming Stewart Geo Technologies and adding the advanced Internet capabilities of GlobeXplorer, we have a technology and systems platform designed to deliver on our vision of an Internet accessible real estate information portal - a single Internet site where the real estate professional and consumer can access a wide variety of critical real estate information," said Don O'Neill, group president for Stewart real estate information (REI). "By improving our operational efficiency and making these tools available we help fulfill the broader vision of Stewart to enhance the real estate transaction process."
"By combining forces under the Stewart name, we will enable the highly talented professionals in each of our organizations to complement each other and become more effective in serving our customers," said Kas Ebrahim, president and chief executive officer of Stewart Geo Technologies and former president of Landata Airborne Systems, located in Irvine, Calif.
"Moreover, we are refocusing the former firms' business models to an end-to-end geospatial solutions provider," said Ebrahim. "The consolidation of our geospatial operations and GlobeXplorer acquisition was the first step to achieve our strategic objective.
"We are very pleased with the caliber and expertise of GlobeXplorer's management and staff. We will utilize GlobeXplorer's state-of-the-art warehousing and networking technology to provide more efficient Internet access to our real estate data sources, including title and public records information, flood hazard analysis and GIS solutions," said Ebrahim.
"The integration of GlobeXplorer's content and technology with Stewart's services and leadership in the real estate information business will create an extremely powerful solution for anyone dealing with land-based transactions," said Robert C. Shanks, GlobeXplorer president and chief executive officer. "We are creating end-to-end real estate information services to provide better information to more customers, in an extremely cost-effective and timely manner."
GlobeXplorer will retain its name and staff, and will remain headquartered in Walnut Creek, Calif.
Jill Urban-Karr, former president of Landata Geo Services, is the executive vice president of Stewart Geo Technologies and will remain at the company's location in San Antonio, Texas. Urban-Karr continues to play a pivotal role in ongoing international activities, including a project with IBM Romania to modernize public land records for the Romanian government. She also will continue to lead GIS consulting operations for the new entity.
More information about Stewart Geo Technologies can be found at http://www.stewartgeotech.com
GlobeXplorer is the leading technology enabler of high-speed access to interactive aerial photos over the Internet and delivered to wireless devices. Through the company's products, business professionals from a wide range of industries can access captivating images from the world's largest database of online commercial aerial photography. The company is headquartered in Walnut Creek, Calif., and its products are available worldwide. For further information, contact GlobeXplorer at email@example.com, or visit http://www.globexplorer.com on the Internet.
Stewart Information Services Corporation is a technology driven, strategically competitive, global real estate information company. Stewart provides title insurance and related information services through more than 6,400 issuing locations in the United States and several international markets. Stewart meets the needs of the real estate and mortgage industries through the delivery of information services required for settlement using e-commerce. These services include title reports, flood determinations, property appraisals, surveys, document preparation, property reports and background checks. Stewart also supplies post-closing services to lenders, automated county clerk land records and geographic information systems for governmental entities. Stewart provides expertise in tax-deferred exchanges. More information about Stewart can be found at www.stewart.com.